RE:RE:RE:SRK Consulting Resource Estimate: If Freeport elects to sell its interest in Timok before delivery of a BFS to RMC, it will only be selling a 55% interest because that is all it currently owns. I also believe that under the Earn-In Agreement between RMC and Freeport, RMC has a right of first refusal on any such sale of Freeport's interest. It will never come to this-- Freeport is never going to open the door for RMC to own 45% of Timok.
Read carefully all of Freeport's public statements about Timok, including the 6/24/13 NYC Investor Conference and Jim Bob Moffett's comments that Serbia could be another Grasberg and Mac Canby's (Freeport VP of Exploration) November 5, 2013 presentation that if Timok exploration continues to go well Freeport will proceed quickly to scoping and feasibility. Canby when he spoke on November 5, 2013 already knew what the yet-to-be-released porphyry drill holes have found. Indonesia and Grasberg are a ticking time bomb for Freeport--- just read Management's Discussion and Analysis in Freeport's recently filed 2013 10-K with the U.S. Securities and Exchange Commission-- they are clearly very worried and concerned about the long term stability of their investment in Grasberg. Freeport is not going to let go of Timok or the exploration upside of Serbia generally. Freeport will buy out RMC's Serbian interests, likely sometime in 2014 and at a very fair price thanks to the preemptive strategies currently being employed by RMC's management team. Freeport wants to expedite development of Timok and explore other potential areas of mineralization and knows that if it does not first buy out RMC's interest, every exploration and development dollar it spends adds incremental value to RMC's share price.